Entries and Schedules for Unfinished Jobs and Completed Jobs Tybee Industries Inc. uses a job order cost system. The following data summarize the operations related to production for January, the first month of operations: c. Factory overhead costs incurred on account, $4,930. a. Materials purchased on account, $2,610. d. Depreciation of machinery and equipment, $1,540. b. Materials requisitioned and factory labor used: e. The factory overhead rate is $35 per machine hour. Machine hours used: Job Machine Hours Job Materials Factory Labor 301 43 301 $2,580 $2,170 302 42 302 3,150 2,930 303 32 303 2,090 1,430 304 79 304 7,070 5,380 305 15 305 4,490 4,100 306 306 34 3,280 2,600 For general factory use 880 3,210 Total 245 c. Factory overhead costs incurred on account, $4,930. f. Jobs completed: 301, 302, 303, and 305. d. Depreciation of machinery and equipment, $1,540. g. Jobs were shipped and customers were billed as follows: Job 301, $7,510; Job 302, $9,060; Job 303, $13,460 e. The factory overhead rate is $35 per machine hour. Machine hours used: a. Materials 2,610 Accounts Payable 2,610 b. 4,090 Work in Process Factory Overhead Materials Wages Payable 23,540 21,820 c. 4,930 Factory Overhead Accounts Payable 4,930 d. 1,540 Factory Overhead Accumulated Depreciation Machinery and Equipment 1,540 e. 8,575 Work in Process Factory Overhead 8,575 f. Finished Goods 4,620 x Work in Process 4,620 X g. Accounts Receivable 30,030 Sales 30,030 Cost of Goods Sold 14,350 X Finished Goods 14,350 X Work in Process (f) (6) (e) 8,575 Bal. Finished Goods (9) (1) Bal. 3. Prepare a schedule of unfinished jobs to support the balance in the work in process account. Tybee Industries Inc. Schedule of Unfinished Jobs Job Direct Materials Direct Labor Factory Overhead Total 5,380 $ No. 304 7,070 $ No. 306 3,280 Balance of Work in Process, January 30 2,600 4. Prepare a schedule of completed jobs on hand to support the balance in the finished goods account. Tybee Industries Inc. Schedule of Completed Jobs Job Direct Materials Direct Labor Factory Overhead Total Finished Goods, January 30 (Job 305) $ 4,490 S 4,100